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Forbes Earnings Preview: Medtronic (MDT)

MedtronicMedtronic reports its second quarter earnings on Tuesday, November 19, 2013, and the consensus earnings per share estimate is 90 cents per share.

Despite not changing over the past month, the consensus estimate is down from three months ago when it was 92 cents. Analysts are expecting earnings of $3.82 per share for the fiscal year. Revenue is projected to eclipse the year-earlier total of $4.10 billion by 2%, finishing at $4.18 billion for the quarter. For the year, revenue is projected to come in at $16.96 billion.

The profit rise in the first quarter followed a drop in net income in the quarter prior. The 48% profit increase in the most recent quarter brought the figure to $953 million. One quarter prior, net income was down 2% year-over-year.

Over the last four quarters, the company’s revenue rose by an average of 1% year-over-year. The largest growth was in the fourth quarter, when revenue climbed 4% year-over-year.

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